(3)A Director who is either in the whole-time employment of the company or a Managing Director may be paid remuneration either by way of a monthly payment or at a specified percentage of the net profits of the company or partly by one way and partly by the other:Provided that except with the approval of the Central Government such remuneration shall not exceed five per cent of the net profits for one such Director, and if there is more than one such Director, ten per cent for all of them together.] [ Substituted by Act 65 of 1960, Section 113, for sub-Sections (2) and (3) (w.e.f. 28.12.1960).]
